A company issued $1,000,000 of 8% bonds on January 1, with interest payable semi-annually. The bonds mature in 5 years. The market rate of interest for similar bonds was 9% at the time of issuance. The present value (issue price) of the bonds is approximately. ## Please Don't use chatgpt or

A company issued $1,000,000 of 8% bonds on January 1, with interest payable semi-annually. The bonds mature in 5 years. The market rate of interest for similar bonds was 9% at the time of issuance. The present value (issue price) of the bonds is approximately. ## Please Don't use chatgpt or

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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A company issued $1,000,000 of 8% bonds on January 1, with interest payable semi-annually. The bonds
mature in 5 years. The market rate of interest for similar bonds was 9% at the time of issuance. The
present value (issue price) of the bonds is approximately _
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other ai tool. If you know correct answer then attempt if you gave wrong answer then i gave 34 dislikes
for you and more from my friend's accounts also.

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On January 1, 2021, Concord Corp. issued five-year bonds with a face value of $370.000 and a coupon interest rate of 6%, with interest payable semi-annually. Record the proceeds from the sale of the bonds if the market interest rate was 7%. See below for present value tables. (Do not use & signs or commas in your answer. Do not round intermediary calculations. Only round final answers to 2 decimal places ex: 5.25) TABLE Present Value of $1 PV (n) Periods TABLE 2 8 9 1 1 2 9T5 VO 5 6 Present Value of an Annuity of $1 PV (n) Periods 1% 1 (1 + i)" 2% 2.5% 3-5% 4% 4-5% 7% 8% 9% 10% 1.5% 3% 6% 0.99010 0.98522 0.98039 0.97561 0.97087 0.96618 0.96154 0.95694 0.95238 0.94340 0.93458 0.92593 0.91743 0.90909 0.98030 0.97066 0.96117 0.95181 0.94260 0.93351 0.92456 0.91573 0.90703 0.89000 0.87344 0.85734 0.84168 0.82645 0.97059 0.95632 0.94232 0.92860 0.91514 0.90194 0.88900 0.87630 0.86384 0.83962 0.81630 0.79383 0.77218 0.75131 0.96098 0.94218 0.92385 0.90595 0.88849 0.87144 0.85480 0.83856…
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